Kotak Investment Advisors on Thursday launched the Kotak Special Situations Fund, which will target a range of non-performing loan opportunities in India.
The fund, which focuses on providing financial support to pre-stress businesses, is being anchored by a $500 million (about Rs 3,560 crore) commitment from a unit of Abu Dhabi Investment Authority (ADIA). It will target both pre-stress and distressed opportunities.
“We have a robust pipeline of transactions coming through the insolvency and bankruptcy code process, as well as others from outside the process as structured financing for settlements. We believe there is a significant opportunity to provide financing in a range of situations,” Eshwar Karra, CEO of Kotak Special Situations Fund, said in a statement.
The Kotak Special Situations Fund is structured as an Alternative Investment Fund under Sebi regulations and aims to reduce the number of non-performing assets in the economy.
First Published: Feb 28, 2019 1:13 PM IST
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